Block shares soar as much as 24% as company slashes workforce by nearly half

Block said Thursday it's laying off more than 4,000 employees, or about half of its head count.

Block lays off nearly half its staff because of AI. Its CEO said most companies will do the same

Block, the company behind Square, Cashapp and Afterpay, is proactively slashing 40% of its workforce because of advances in AI. Will other companies follow suit? Tech expert Lance Ulanoff tells CNN’s ...

AI-washing: How companies like Block may use AI as a layoff excuse

The possibility that companies are spinning employees and investors and using AI as a shiny excuse for ugly layoffs has ...
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Why is Block laying off nearly half its staff? Reasons explained

Block cuts 40% of its workforce as Jack Dorsey cites AI-driven restructuring, saying the company remains financially strong despite eliminating over 4,000 jobs ...

Jack Dorsey’s Block to Lay Off 40% of Its Workforce in AI Remake

The company said the plan would cost it $450 million to $500 million in expenses and severance.
Outlook Business

Jack Dorsey’s Block To Lay Off 4,000 Employees Over AI-Led Efficiency

The layoffs were first announced in a shareholder letter on Thursday, after which CEO Dorsey shared the news on his handle on ...